This Agreement is made between TriumphFX; and the respective Client following the initial presentation of the Agreement via the Website and its acceptance thereafter via the execution of the definite actions, which affirm the Agreement to be binding for all the Parties involved. Simultaneously this Agreement is binding for the respective Client who accepts it via the actions equal to the mentioned herein.
Service - the entire service of Community Trading developed and maintained by TriumphFX, which is dedicated for mirroring Provider’s trading operations by Client.
Agreement - the body of legal documentation (including any kind of the Service descriptions, other regulations or legal documents presented to Client/Provider) related to the Service.
TriumphFX - Triumph International Limited. (Incorporated in Republic of Vanuatu, under the company No. 17901 under section 4, subsection (1) (a) of The Dealers in Securities (Licensing) Act [CAP.70]).
Client - natural person or legal entity which applies the Service expressing direct intention to authorize TriumphFX on behalf of the Client to mirror the Trading operations performed by other customers of TriumphFX within the Account of the Client.
Trading operations - exact transactions, decisions and other actions within the products offered by TriumphFX performed by the respective customer of TriumphFX (Provider) chosen for mirroring by the Client.
Provider - customer of TriumphFX who performs Trading operations chosen for mirroring by the Client. Provider’s history of Trading operations is presented to the Client by TriumphFX via Website.
Follower – status of the Client while using the Service which indicates that the Client mirrors the respective Trading operations of the Provider and applies them to its Account.
Watcher – status of the Client while using the Service which indicates that the Client mirrors the respective Trading operations of the Provider but does not apply them to its Account.
Website – community-trading.tfxi.com
Account – respective Client's or Provider’s account in order to use the Service.
Party/Parties – respective party of current Agreement or respective parties together.
Forex – global, worldwide decentralized financial market for trading currencies.
Capital – the funds of the Client devoted for trading products offered by TriumphFX under the provisions of the Agreement.
- SCOPE OF THE AGREEMENT
- Current Agreement (along with the other legal documentation and respective Service descriptions) describes, settles and regulates the legal relations between TriumphFX and the Client the Provider during the provision and usage of Service.
- The Service is developed by TriumphFX in order to provide the possibility for the Client to gain benefits from the Trading operations within products offered by TriumphFX.
- The Parties acknowledge the place of conclusion of the Agreement as the place of TriumphFX incorporation.
- LIABILITY DISCLAIMER
- TriumphFX shall not be liable for any loss, whether such loss is direct, indirect, special or consequential, suffered by Client as a result of use of the Service, its software or content. Any operations performed by Client (including choose of the Provider) are done at own risk and the Client shall be solely responsible for any loss/ damage to any third parties if such occur.
- The Client accepts that during use of the Service mirroring delays may occur which are natural effects of IT software and its infrastructure involving global internet, data transmission between Provider and its Followers. The Client accepts that during such suspension the overall products situation may change and result as unintended loss or profit for the Client. In this case the Client shall keep TriumphFX and the Provider indemnified against any claims concerning any losses/ damages suffered, which means that TriumphFX and the Provider hold no liability towards the Client concerning the losses/ damages borne.
- DELIVERY OF THE SERVICES
- TriumphFX shall commence the provision of the services from the day the client subscribes to its services.
- TriumphFX shall complete/cease to provide the services the day the client or TriumphFX terminates the service.
- GENERAL PROVISIONS
- Status of TriumphFX
- TriumphFX under the Agreement acts as a separate Party, neither undertaking any powers delegated by Client and/or Provider, nor acting as an agent or authorized representative of any Party. It is settled that TriumphFX provides the Service solely as the result of its intellectual work, which combines technological, know-how and other solutions of TriumphFX for Client's benefits.
- TriumphFX guarantees that it has taken all the necessary and reasonable measures to identify the Provider, to collect the most accurate historical data on Provider, and guarantees that the information for the Client set out within the Website contains a certain trade history of the Provider familiar to TriumphFX.
- TriumphFX guarantees that it has not rearranged or distorted the Provider's data or any other data of the Provider upon which the Client makes the decision to mirror the Trading operations with certain status – whether Watcher or Follower.
- TriumphFX has been authorized by the Client to organize all the appropriate technical and organizational conditions for the Client to be capable to use the Service in the status of Follower or Watcher.
- By this Agreement the Client and the Provider acknowledge the exclusive status and rights of TriumphFX, which result as TriumphFX's unilateral ability to administer and moderate Provider’s and Client’s Accounts, especially - names, graphics, images, texts and all other content included and related to the use of the Service; to suspend or terminate the Account functionality if the Provider or the Client violates or does not comply with best behavior principles in internet or acts unethically, especially if such actions offend legal rights of the third parties or threaten to result as reputation damage to TriumphFX.
- Status of the Client
- The Client does not physically execute trading operations on products offered by TriumphFX. Instead of that the Client mirrors the Trading operations of the Provider as Follower or Watcher.
- The Client unilaterally and by sole discretion chooses the Provider to mirror grounding on the Provider's historical data of the Trading operations presented via Website.
- The Client shall not deem the Service as investment advice.
- The Follower within the Account has right to modify and terminate his mirroring actions regardless the use of the Service and actions of the Provider. In these cases the Client falls under the respective provisions of legal documentation of TriumphFX.
- The Follower’s personal data can be disclosed and accessible to public if the Follower issues permission of his personal data processing. Such permission shall be obtained if Follower fulfils certain requirements set by TriumphFX within his Account.
- Status of the Provider
- The Provider is customer of TriumphFX who uses respective service of community trading and expresses the acceptance to become mirrored by the potential Clients.
- The Provider does not provide investment advice service and is not employed by TriumphFX. TriumphFX has not entered into any legal relations with the Provider as investment advisor.
- The Provider has authorized TriumphFX to present his trading history to the potential clients.
- The Provider according to the conditions of the Agreement and upon his sole discretion may decide whether his Trading operations are being watched/ followed by the Clients. In this case as soon as the Provider activates Provider’s Account he simultaneously acknowledges (gives permission of his personal data processing) that his personal data- history of the previously executed trading operations within products– becomes public and accessible to every third party, including potential Clients.
- The Provider is entitled to promote his status in public and demonstrate the total number of Followers and other Provider’s performance data.
- The Provider shall always act upon the good faith protecting the interests of the Clients, directly dependant on the Provider’s activities within the framework of the Agreement, by his best efforts.
- THE OVERALL SERVICE DESCRIPTION
- The Provider acts upon his own unbounded will and he is free to decide at his own sole discretion which Trading operations to execute. The Client has no right to effect the Provider’s decisions on the upcoming Trading operations and furthermore by this it has been settled that no legal relations between the Client and the Provider exist.
- The Provider has no right to monitor any Follower Accounts.
- The Client has the right to set the maximum fund allocation by which the mirroring of the Trading operations is executed. Simultaneously the Client acknowledges the fact that he has become acquainted with the Notice of Risk.
- The Client has been operating with the set of the IT tools developed by TriumphFX in order to maintain control on mirroring of the Trading operations during the use of the Service.
- The Client is charged for commission on each copied or directly opened trade according to published commissions list on Website.
- The Provider according to the information published within the Website shall receive the remuneration.
- Community Trading Stop Out will be triggered if the remaining allocation balance is equal to or less than 25% of the Follower allocation amount.
- Under the Agreement the Client and the Provider authorize TriumphFX to execute calculations of fees and remuneration, respectively.
- LIMITATIONS TO THE PARTIES
- The limitation to the Provider
- The Provider is not allowed to execute the changes described within the Article 3.3.5 of the Agreement if the Client holds status of the Follower.
- Partial closure of orders by provider is not supported. Performing so will cause full closure of followers' corresponding orders.
- Index orders are not supported. Follower will not copy index orders.
- The limitation to the Client
- While operating as Watcher the Client, the Account opening is not mandatory, but as the Client stats operating as the Follower – he has to pass through the all of the registration requirements set by TriumphFX.
- Mutual limitations
- Either Client or Provider may mutually suspend the following/ watching activities as a result causing the situation that (a) upcoming Trading operations are not available to be mirrored for the Client, (b) upcoming Trading operations do not apply to the Client's Account.
- TriumphFX has unilateral right upon its sole discretion to terminate the provision of the Service to the Client if reasonable and justified circumstances occur.
- TriumphFX has unilateral right upon its sole discretion to terminate and modify the status of the Provider towards the Clients if reasonable and justified circumstances occur.
- Parties acknowledge that their ID verification process initiated by TriumphFX may take place after the Party has qualified for certain requirements and policies defined by TriumphFX. This process is obligatory for the Parties if TriumphFX applies it individually towards any of them.
- OBLIGATIONS AND RIGHTS OF THE PARTIES
- The Client and the Provider agree that they will be responsible for complying with the rules and regulations, but not limited to, currency, tax and other legislations
- undertake compliance including, of the country of residence, including full responsibility for commercial activity arising from the use of the Service;
- provide true and accurate data to mores;
- acknowledge the meaning of terms and conditions of the Agreement;
- fully understand the consequences of their actions.
- The Parties certify that by no means they shall ever act under the influence of alcohol or drug intoxication. Parties must understand and manage their own behavior.
- The Client and the Provider agree that they shall not:
- undertake any liabilities or rights on behalf of TriumphFX,
- use, copy, adapt, alter or part with possession of any information of TriumphFX which is disclosed or comes into its possession under or in relation to this agreement and which is of a confidential nature,
- make any guarantees or any claims in connection with payments on behalf of TriumphFX using the brand name and/or trademark of TriumphFX,
- perform any other actions that may cause any damage to TriumphFX or raise any complaints against TriumphFX from third parties.
- As a result of the Client’s and / or Provider’s failure to comply with the Agreement, if legal proceedings are initiated against TriumphFX, all losses suffered by the TriumphFX shall be fully compensated by respective Party.
- The Client shall strictly refrain from trading Forex via method of mirroring the Trading operations, if possible
- GENERAL PRINCIPLES OF CAPITAL DEPOSIT / WITHDRAWAL
- All the transactions related to the deposit/ withdrawal of the Capital of the Client must be executed following the indications of TriumphFX displayed within the Website.
- Besides the Article 7.1 of the Agreement the process of deposit/withdrawal of Capital is also organized in accordance with the procedures of TriumphFX, described within other legal documentation/ services descriptions and other relevant information within the Website (for reference see the section “Terminology”, term – “Agreement”).
- Under the Agreement TriumphFX undertakes the obligation to adjudicate any reasonable complaint of the Party and issue any appropriate decision.
- By no means is TriumphFX liable towards any Party for any losses/damages incurred.
- TriumphFX shall not be liable for any costs, losses or damages (direct, indirect, accidental, lost profits, etc.) concerning the current Agreement and incurred by any of Parties.
- RISK NOTICE
- TriumphFX does not guarantee profit. Positive trading results in the past do not guarantee positive trading results in the future.
- The Client understands and accepts possible financial losses such as direct losses or lost profit resulting from the following risks:
- the risk that the Client does not have qualification and knowledge for trading Forex and/ or for choosing the Provider to mirror;
- the risk that the Provider’s actions and executed Trading operations may not meet Client’s interests;
- the risk that the Client may lose control over the Account;
- the risk that third parties may gain access to Account;
- the risks related to Force Majeure events such as natural disaster, military activities, strikes, riots, interruptions to the functionality of networks and other IT equipment, interruption of the electricity power, etc.;
- the risk that the Client and/or Provider may misunderstand or misinterpret the Agreement;
- the risk of late notification to TriumphFX of criminal, fraudulent or any other illegal actions with the Capital which are contrary to the conditions of the Agreement;
- the risk of unforeseen delays when transferring Capital between Accounts or untimely execution of deposit/withdrawal requests;
- the risk of unilateral change of the status by any of the Parties according to the Article 6.3.1 of the Agreement.
- OTHER PROVISIONS
- The Parties acknowledge that the TriumphFX has a right to introduce amendments to the provisions of the Agreement at any time having given the Party notification. Such amendments shall come into force and become binding for the Party from the date specified in the notification.
- By the conclusion of the Agreement the Provider simultaneously grants the permission to process its personal data by TriumphFX and any third party for marketing purposes and promotion of the Service, including use of the data within charts, surveys, reports, IT software products, web apps, etc. developed by TriumphFX and used by any third party.
- Should one or more provisions of the Agreement become invalid, null and void by any reason, it shall not affect the validity of any other provision herein.
- Lost profit claims will not be accepted for TriumphFX adjudication.
- The Parties do not compensate each other for moral damage.
- UNIDROIT Principles of International Commercial Contracts 2010 govern the present Agreement.
- All disputes arising from the present Agreement shall be resolved at LCIA (London Court of International Arbitration) in accordance with current arbitration rules.
- In case of discrepancy between the Russian and English texts of the Agreement the Parties shall execute measures in order to identify the actual sense of appropriate conditions. In case of mismatch the English text prevails.